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HFMWeek: Focus on CIMA

29 April 2014

HFMWeek: Focus on CIMA

Peter Huber recently spoke to HFMWeek regarding the Cayman Islands Monetary Authority (CIMA) Statement of Guidance on Corporate Governance (SOG), including CIMA and investors' expectations and requirements of service providers and insight into the changes and challenges the SOG has provided for the professional director community.

CIMA issued its formal SOG in January 2014. The SOG covers areas such as the core role of a director, the board's oversight functions, conflicts of interest, expectations as to the conduct and frequency of board meetings (including attendance and reporting requirements of third-party service providers), communicating with CIMA, risk management and the drafting of proper minutes.

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